A bill to amend the Internal Revenue Code of 1954 to exclude from gross income $5,000 of interest on savings for an individual taxpayer.
American Savers Incentive Act of 1979 - Amends the Internal Revenue Code to exclude from gross income up to $5,000 of the interest earned on a savings account at a bank, savings and loan association, credit union, or similar thrift institution.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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